Builder
ALOK SRIVASTAVA (TAX ADVOCATE) (23 Points)
19 April 2017ALOK SRIVASTAVA (TAX ADVOCATE) (23 Points)
19 April 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 19 April 2017
for a builder deemed vat is applicable as per vat laws
Service tax is applicable as per Rule 2A Valuation Rules
Excise duty not applicable since you are dealing in immoveable property
TDS will be applicable on certain Payments
Mukesh Kumar
(Accounts Manager)
(1466 Points)
Replied 19 April 2017
I THINKS A BUILDER SHOULD BE MAINTAIN THESE A/C
1 VAT: FOR VAT LIABLITY AGIANST SALE OF BUILDING OR FLAT
2.SERVICE TAX : FOR SERVICE TAX LIABILTY AGAINST LABOR CONTRACTOR , OR OTHER SERVICES REVEICE
3. TAN NO : FOR DEDUCTION OF TDS AGISNT CONTRACTOR PAYMENT
4. EXCISE DUTY : IF YOU ARE MANUFACTURERE
5. PAN NO : FOR PAYMENT OF INCOME TAX
6 EPF NO : IF YOU HAVE MORE THAN 20 NOS OF EMPLOYEE
7. ESI NO : IF YOU HAVE MORE THAN 10 NOS OF EMPLOYEE
8. CST NO : IF YOU SALE/ PURACHASE INTER STATE
ALOK SRIVASTAVA
(TAX ADVOCATE)
(23 Points)
Replied 19 April 2017
if builder deals in sale and purchase of land only .
if a builders purchsed a big land there after distribute in small plots after making a roads .
means they deals only in trading of land.
what type of tax will be imposed on them
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)